Single-parent households struggling with money is nothing new. But living in denial about your spending and just crossing your fingers, hoping you have the money to pay your monthly bills, is super stressful. Fixing your money trouble requires taking a hard look in the mirror. Most problems can be solved by looking them squarely in the face and agreeing to take accountability.  This is how I learned to save money as a single mom.

I made a promise to myself to leave behind the act of passively relying on my bank app to track my money.  Instead, I learned to treat my financial life the same way I do my physical health.  I am going to track my transactions using a budgeting app.  I am not putting myself on a financial diet (we all know diets can be too restrictive and lead to yo-yoing).   This is me taking personal financial accountability.  This is the act of knowing where my money is going and why.  It’s amazing what you learn when you decide to look at the details. Remove the shame and realize that providing for yourself and your children on one salary is amazing. You’ve been doing hard work, now let’s work smarter to save money and enjoy life more.

In this article, I will outline five things a single mom like me can do to be more financially fit and save money. Follow these steps to give yourself the gift of more stability and less stress. In addition, I will give you my single mom hacks I use through Amazon.

Track Every Dollar Spent for 1 Month:

Like many weight loss plans, writing down and tracking every detail of the behavior you try to monitor is the first step in making healthy changes.  In this digital age, there is a record for nearly every penny we spend.  Use that information to your advantage and keep a running tab for one month of your spending and why.  This process will allow you to consider if you are over-spending naturally.  Several popular apps help you plan and budget, such as Mint, Goodbudget, Everydollar, and Pocketguard. You may also be able to look back at your previous months’ bank statements to get a full pdf of your spending. You can print monthly statements for your bank accounts and credit cards and get a full picture of your spending. If you are a person who frequently pays in cash, you will need to write those transactions down in a notebook or notes app on your phone. Figure out which system works best for you and track a full month or two to look at your patterns.

Know your In-flow: 

Whether you are a salaried employee with the same biweekly paycheck or a self-employed contractor whose pay varies from month to month, you need to use the tools you can to best predict a monthly income you can count on.  You can look at prior bank statements or payroll receipts to determine the number.  Make sure it is a figure you can count on from month to month.

Evaluate:

Use the information from your month of tracking to see where hidden fees, subscriptions, impulse buys, and holidays/birthdays impact your bottom line.  The best way to do this is by creating a spreadsheet divided into bills and necessary items (think gas and food) for those inconsistent expenditures like your once-every-three-month water bill or summer camp for your kids.  Divide these expenses by 12 to create a monthly budget.  For example, you won’t have to pay for oil in the summer, but a monthly budget will balance out over the 12-month cycle. Tools to help you get to the bottom of those nasty recurring subscriptions include Mint, Rocket money, and Simplifi.

Use the information you have acquired to see where you can cut back. Can you cut costs on gas or food? One of my biggest epiphanies that came from tracking my spending was seeing how much we spent on eating out as a family. We were often running from one after-school activity to another and would pick up dinner somewhere quickly. Doing dinner out twice a week for my family of four added to major spending. By planning a meal ahead of time and using convenience appliances like an air fryer and slow cooker, I was able to prepare more meals at home. Eating at home saved money and came with the added bonus of being healthier!

Can you have more incoming?:

How many used toys or tools do you have in your garage that are just collecting dust but could sell for a few dollars?  Do you have a skill or talent that could be turned into a part-time side hustle?  How can you take what knowledge or expertise you have and turn it into a money-making business?  People have done this from the beginning of time, turning hobbies into money-making businesses.  Selling items you no longer use can help you pay down some credit card debt or save money for a vacation.  There are no limits, but thinking of ways to monetize your skills may take time.  Ask friends, and do online research.  Find what you are drawn to and take it from there.  Apps to help you freelance your talents include Upwork, Freelancer, and Fiverr.

Also, look for ways to earn more money at your current job. Can you pick up overtime or take on more responsibilities that come with a stipend or pay increase? Are there skills or training you can get that would give you a promotion? Do your research and consider investing in yourself if you feel the opportunity to make more money is legitimate.

Re-Evaluate:

Even the best plans may start with good intentions but will likely need some altering after review.  If you find that despite your planning, you are still in the red each month, you may need to get stricter on your spending or be more creative with your money-making.  There is no one-size-fits-all financial plan, and you will need to adjust as situations change. Don’t get discouraged. Making adjustments is often a necessary part of any active and successful plan.

Lastly, have patience. 

You have spent a lifetime using money management skills that might be less than stellar.  Lasting change takes time and flexibility.  Small improvements can lead to great gains over time, leading you out of financial denial and into accountability. So, let’s leave the overreliance on our bank apps to monitor/track our money and be actively involved. 

Amazon Hacks that save money:

When I first started writing a blog, I wanted to only advertise programs and products that I actually use. I hate reading fluff articles that are written just to sell me something. I became an Amazon Affiliate because I use Amazon nearly every day to save money and time. Here are the Amazon programs I use the most:

Amazon Basics

I may do a whole separate blog post on Amazon Basics; I use it that much, and there is so much to cover. You can find it on the Amazon home page and search for products in categories of Health, Beauty, Home, you name it.

I have this generic Amazon Basic brand in dishes, bed sheets, face and body wash, vitamins and makeup remover. And, of course, those disposable items we go through like crazy such as papertowels, toilet paper, and garbage bags. Put these bad boys on subscribe and save and you can set it and forget it while saving money. I will list some of my favorite products below for you to try.

Amazon Subscribe & Save

In addition to using the Amazon Basics brand to save money and keep quality on every day items, I subscribe to regular deliveries of these essentials. Amazon subscribe & save not only saves me money, it saves the time and energy of having to repeatedly buying the same household essentials. As a single working mom of 3 kids, anything that can be automated and removed from my to-do list is a huge win!

Subscribe & Save discounts can vary but Amazon has hundreds of thousands of items that you receive a 5% discount on just for subscribing and a 15% discount on once you’ve subscribed to 5 items. You set the timeline for repeating purchases and adjust it as needed. Some of my subscribe & save items (like the giant bag of dog food) are only delivered every few months, others (like toilet paper) come monthly. You set the schedule and can adjust it if you have too little or too much of an item. The best part is once you work out a delivery schedule that works for you, you never have to think about it again!

Some of my favorite Subscribe & Save items are (affiliate links included):

Please share your advice for saving money as a single mom in the comment section below!

And don’t forget to sign up for the LHCH Newsletter, where I send you my Friday Favorites at the end of each week.

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